And the burning platform is still, uhm, burning. "Chief Executive Stephen Elop is placing hopes of a turnaround on a new range of smartphones called Lumia, which use largely untried Microsoft software. But Lumia sales have so far been slow, disappointing investors." It's a shame to see a once proud company in such a downward spiral, but alas, it's the way of business. If you get complacent - as Nokia had gotten - you will fail.

That's because they aren't. There was a breakdown in the WSJ last week about the profit margin on the Lumia 900 versus the iPhone 4S, complete with a price breakdown of every component of the phone. I don't remember the exact figures, but Nokia is profiting in close to $300 on each Lumia sold; Apple pulls in over $400.

Of course, this is due largely to the substantially higher carrier subsidy that Apple gets. Apple has a market-dominant position, and is not afraid to throw its weight around. Most of its profits come directly from the carrier's pocket.